The CEO of Nasdaq-listed Microstrategy has dispelled rumors that his company is quietly selling Bitcoin. He explained that as a company regulated by the Securities and Exchange Commission (SEC), changes in bitcoin holdings must be disclosed to shareholders via SEC filings.
Microstrategy’s CEO points out that all bitcoin sales must be publicly disclosed to the SEC and shareholders
This week, a rumor circulated on social media that Nasdaq-listed pro-bitcoin software company Microstrategy has quietly sold its BTC.
Microstrategy CEO Michael Saylor tweeted on Friday, dispelling the rumor. He explained that as a regulated company by the US Securities and Exchange Commission (SEC), Microstrategy is required to disclose any material changes to the company’s strategy to shareholders via SEC filings.
In addition, the executive emphasized that the SEC filings are public records that are “available to all.” He further noted that significant changes include acquiring and holding bitcoin and making changes to crypto holdings.
Bitcoin.com News published an article this week explaining why the rumor is false and why the BTC address in question is not owned by Microstrategy. The address probably belongs to a crypto exchange platform.
While some people appreciate Saylor’s clarification, some are still skeptical and prefer to believe that the rumor that Microstrategy is selling Bitcoin is true.
Saylor was an avid supporter of BTC. He has repeatedly said he won’t be selling his coins any time soon, noting that he will hold them for a hundred years.
In February, the Microstrategy chief said, “I’m seeing signs of much greater institutional adoption, greater macro and other hedge fund adoption.” In December last year, he predicted that Bitcoin’s price could reach $6 million.
Earlier this month, his company spent $200 million more acquiring Bitcoin, increasing its total holdings to 129,218 BTC. Microstrategy obtained a bitcoin-backed loan to purchase the additional coins.
What do you think of the rumor that Microstrategy sold bitcoin? Let us know in the comment section below.
Kevin Helms
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